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by Bjinse on Sun Nov 5th, 2017 at 08:41:56 PM EST
Russia and Mozambique agree big debt-for-development swap
"Russia's innovative move to convert debt into development funding will help feed a generation of schoolchildren in Mozambique," said WFP Executive Director David Beasley.
[...]
Diplomatic relations were formally established on 25 June 1975, soon after Mozambique gained independence from Portugal, and economic and defence relations developed further. This, however, began to change in 1984 when Mozambique joined the World Bank and the International Monetary Fund. Western aid by Sweden, Norway, Denmark and Iceland quickly replaced Soviet support.
[...]
Mozambique sits on vast gas reserves and with good governance could achieve a quantum leap in living standards of its population.

side-line dealing
Mozambique creditors: government not bound by loan guarantees JUNE 2017
"[T]here is no basis -- in either Mozambican or English law -- for the Mozambique government to honour the purported guarantees of the Proindicus and MAM loans."
SEC investigates banks that sold Mozambique's 'tuna bond': WSJ Dec 2016
"The U.S. Securities and Exchange Commission (SEC) is investigating the sale of $850 million in bonds issued by Mozambique by Credit Suisse (CSGN.S), Russia's VTB Group (VTBR.MM) and BNP Paribas (BNPP.PA)"

archived: WFP: African refugee camps 'no longer attract global awareness' 2014

Diversity is the key to economic and political evolution.

by Cat on Thu Nov 9th, 2017 at 11:17:33 PM EST
[ Parent ]
What is a debt-for-development swap?
by fjallstrom on Sat Nov 11th, 2017 at 02:58:35 PM EST
[ Parent ]
Mozambique owes Russia money.  Russia sells the debt to an NGO (in this case the UN's WFP) at a significant discount.  WFP sells the debt at an additional discount to Mozambique and uses the funds raised to pay for developments in Mozambique.  Russia unloads some bad paper, WFP gets to do what it was set up for, and Mozambique gets to get its books in a little better order and gains some infrastructure to boot.
by rifek on Sat Nov 11th, 2017 at 08:37:34 PM EST
[ Parent ]
Are electric cars only for the wealthy?
Norway tops the list of e-car drivers, with 29% (29 electric vehicles sold out of every 100 new cars). But it has a GDP per capita rate of €64,000 - twice the EU's average.
[...]
The sales of electric cars on a global scale have risen sharply thanks to China, which is the top global buyer of e-cars.

archived: VW targets 400,000 annual EV, plug-in hybrid sales in China by 2020

Diversity is the key to economic and political evolution.

by Cat on Thu Nov 9th, 2017 at 11:55:00 PM EST
[ Parent ]
First, it is pretty darn strange that Intercept investigators can't manage reporting on funding of the notorious National Defense Authorization Act (NDAA) itself, oozing through conference report to Trump's signature. Before getting into Greenwald's book of business AND Bezos Envy.

The "Amazon Amendment" Would Effectively Hand Government Purchasing Power Over to Amazon

Second, it is pretty darn sad that Intercept investigators weren't driving around DC metro back in '05, '06 to hear Google radio advertising soliciting government software dev business. If they had, well, they wouldn't be much surprised by SALGADO's airs in the "Extremist Content and Russian Disinformation Online" hearing, now would they?

Diversity is the key to economic and political evolution.

by Cat on Fri Nov 10th, 2017 at 02:24:12 AM EST
[ Parent ]
RT
The third rebuttal, which I'll develop in more depth in a later column, is that if I can help strengthen Russia as a rival axis of power to the USA, then I think that's a good thing. I'd rather have a bipolar (or tripolar) battle for global dominance between two (or more) Superpowers, than have a unipolar world with a single Superpower, led by a leader with a bipolar personality.
by gk (gk (gk quattro due due sette @gmail.com)) on Fri Nov 10th, 2017 at 09:14:45 PM EST
[ Parent ]
Steve Keen, throwing this crap the shade it so richly deserves.
by rifek on Sat Nov 11th, 2017 at 09:28:29 PM EST
[ Parent ]

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